Introduction to Blockchain Technology
A Blockchain is a chain of blocks that contain information. All blocks contain information. This information which is stored inside a block depends on the type of blockchain. This block may contain information relevant to applications that are built on blockchain. For Example, A Bitcoin Block contains information about the Sender, Receiver, and number of bitcoins to be transferred. Hence it is acting as a distributed ledger.
It is used for the secure transfer of items like money, property, contracts, etc, without requiring a third-party intermediary like a bank or government. Once data is recorded inside a blockchain, it is very difficult to change it.
The first block in the chain is called the Genesis block. Each new block in the chain is linked to the previous block.
A. Blockchain network consists of many computers connected together and the block cannot be altered without the consensus of the whole network. B. Each and every participant of the network can control the network.
A Blockchain network consists of many computers connected together and the block cannot be altered without the consensus of the whole network. Block can be considered as a container for the data. Computers in the blockchain network are called nodes and each node has a copy of the digital ledger.
Research Members
Prof. Dayanand Ambawade
Associate Professor
Currently Pursuing Doctoral research studies at S.P.I.T research centre, Mumbai University
M.Tech (Communication) IIT, Bombay
B.E. (Electronics)